If Russia is starting to sell the gold it has been hoarding for years, it's because it's truly on the brink of financial collapse and desperately needs cash to finance its war.
Otherwise, selling its gold for weak money would make no sense. The only plausible reason would have been to sell some of that gold to buy Bitcoin.
They're selling off their gold reserves because the invasion is going quite badly for Russia and they need the money. The "bingo card" of Russian oil refineries that have been hit by Ukraine is pretty brutal:
Ukraine is also hitting their oil and gas export infrastructure, e.g. the temporary shutdown of the port of Novorossiysk, 2% of the world's oil supply. Yes, Russia also has been able to do partial repairs of damaged infrastructure. But these things all add up.
'“With domestic gold market liquidity having increased in recent years, the Bank of Russia now conducts equivalent operations on the domestic market not only through yuan transactions but also partially through gold,” a Central Bank spokesperson told Interfax.'
Putin has made Russia a subservient tribute state to China. Putin is Xis puppy dog military proxy and discount oil and gas clown. Russia is now reliant upon China to facilitate trade payments via Chinas shadow banking routes that bypass the SWIFT/USD hegemony. Russia is fuelling Chinas rise and supporting Chinas incremental challenge to US hegemony.
If Russia is starting to sell the gold it has been hoarding for years, it's because it's truly on the brink of financial collapse and desperately needs cash to finance its war.
Otherwise, selling its gold for weak money would make no sense. The only plausible reason would have been to sell some of that gold to buy Bitcoin.
lol
some would say selling gold on ATH is a smart move
They're selling off their gold reserves because the invasion is going quite badly for Russia and they need the money. The "bingo card" of Russian oil refineries that have been hit by Ukraine is pretty brutal:
Ukraine is also hitting their oil and gas export infrastructure, e.g. the temporary shutdown of the port of Novorossiysk, 2% of the world's oil supply. Yes, Russia also has been able to do partial repairs of damaged infrastructure. But these things all add up.
Russian businesses aren't doing well either: https://www.themoscowtimes.com/2025/11/18/russian-companies-face-record-debt-burden-as-high-rates-squeeze-profits-think-tank-a91165
When ~50% of your tax dollars go to an invasion that has been stalled for years, bad stuff happens.
you wish
'“With domestic gold market liquidity having increased in recent years, the Bank of Russia now conducts equivalent operations on the domestic market not only through yuan transactions but also partially through gold,” a Central Bank spokesperson told Interfax.'
Putin has made Russia a subservient tribute state to China.
Putin is Xis puppy dog military proxy and discount oil and gas clown.
Russia is now reliant upon China to facilitate trade payments via Chinas shadow banking routes that bypass the SWIFT/USD hegemony.
Russia is fuelling Chinas rise and supporting Chinas incremental challenge to US hegemony.
Oopsie
The war with Ukraine is about to end so they might be buying Bitcoin.